USDE funding rates and arbitrage

USDE perpetuals trade on 4 contracts across 4 venues, forming 6 cross-venue arbitrage pairs. By net APR the current best pair is long MEXC against short Bybit, netting +25.29%, with both legs settling on the same cadence。

USDE perpetual funding rates by venue

APR = current rate × (24 ÷ settlement interval) × 365. Venues settle on different cadences, so rates must be annualised before comparing.

Venue	Contract	Margin	Settlement	Current rate	APR	24h avg APR	24h volume	Mark
LBank	USDEUSDT	USDT	8h	-0.0100%	-10.95%	-10.95%	$1.0M	1.001
Bitget	USDESTOCKUSDT	USDT	8h	0.0069%	+7.56%	+57.98%	$430K	10.595
MEXC	USDESTOCK_USDT	USDT	8h	-0.0131%	-14.34%	-0.02%	$104K	10.590
Bybit	USDEUSDT	USDT	8h	0.0100%	+10.95%	+10.95%	$28K	0.99960

USDE cross-venue arbitrage pairs

Short the higher-APR leg and go long the lower one; net APR = short leg − long leg.

Long	Short	Net APR	Daily	24h avg	Settlement	Liquidity
MEXC USDT	Bybit USDT	+25.29%	0.0693%	+10.97%	8h matched	$28K
MEXC USDT	Bitget USDT	+21.90%	0.0600%	+58.00%	8h matched	$104K
LBank USDT	Bybit USDT	+21.90%	0.0600%	+21.90%	8h matched	$28K
LBank USDT	Bitget USDT	+18.51%	0.0507%	+68.93%	8h matched	$430K
MEXC USDT	LBank USDT	+3.39%	0.0093%	-10.93%	8h matched	$104K
Bitget USDT	Bybit USDT	+3.39%	0.0093%	-47.03%	8h matched	$28K

Funding rates for other coins

USDJPY+31.4%VICR0.0%WAVES0.0%WOTAMALAILE0.0%币安人生+37.3%AAPU+21.9%ABNB0.0%AGI0.0%ALL+0.4%AMKR0.0%APM+38.1%BA0.0%

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